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Pi Network price has plummeted 21% in the last 24 hours to trade at $0.89486 as of 3:30 a.m. EST on a 48% pump in trading volume to $546 million.
Pi Network Price May Continue Its Downward Trend
The Pi/USDT trading pair currently trades at $0.89486, reflecting a -2.27% decline within the observed 1-hour timeframe. The chart shows a well-defined descending triangle pattern, generally a bearish formation characterized by lower highs, indicating that sellers dominate.
A noticeable area of price consolidation occurred around the $1.00 psychological level, which is a temporary support. After multiple tests of this support, the price eventually broke downwards, confirming a Break of Structure (BOS) that has marked the continuation of the prevailing downtrend, adding to the bearish sentiment.
Additionally, an order block (OB) is seen near $1.20, previously serving as a key resistance. Order blocks are often regions where institutions or large traders placed significant sell orders, and the price struggled to break above this level before continuing downward.
PIUSDT Analysis Source: Tradingview
Selling Pressure Mounts, Eyes On $0.80 Support Level
The presence of Fair Value Gaps (FVGs) shows that the market could undergo a temporary retracement to fill these gaps, offering short-term relief before continuing its downward trend. If the price attempts to retest the $1.00 level, traders should closely monitor for signs of rejection or weakening momentum.
The Relative Strength Index (RSI) is currently at 21.79, firmly in the oversold territory. A previous dip brought the RSI below 15.02, further emphasizing the extreme selling pressure. While such low RSI readings often suggest a potential for a short-term bounce or corrective move, it is important to wait for confirmation of a reversal.
The immediate downside target could be the next support level, around $0.80, especially if the bearish momentum persists. On the other hand, if the market undergoes a relief rally, the $1.00 level might serve as the first major resistance.
A successful break above this could lead to further upside attempts, potentially testing the $1.20 order block. Meanwhile, the Pi Network price remains bearish, and further declines are possible if the selling pressure continues.
Solana Layer 2 Solaxy Explodes Past $27.3 Million In Presale
While the Pi Network price keeps falling, Solaxy (SOLX) is gaining attention, raising over $27.3 million in its presale. Positioned as Solana’s first Layer 2 solution, Solaxy is stepping up to tackle the network’s congestion problems.
These issues are mainly driven by the growing popularity of SOL-based meme coins, as developers continuously launch new tokens to ride the trend. Even US President Donald Trump has introduced his own meme coins on the blockchain.
To address this, Solaxy will use rollups, a scaling solution that processes and bundles transactions off-chain. Once bundled, these transactions will be sent to Solana’s blockchain for final approval and storage, reducing network congestion and improving overall efficiency.
Solaxy ( $SOLX)- #Solana Layer 2 #memecoin with high staking rewards.
Raised $10M+ in presale, ongoing until March 31, 2025.
Pros:
Aligns with Solana + memecoin trend.
Public security audit.
Decent SMM performance.https://t.co/xHEqmN9z0h pic.twitter.com/XSZxybjBSg— Rayford Nelson (@RayfordN97369) March 13, 2025
Solaxy also offers developers simple tools to launch or enhance their projects. In addition to easing Solana’s congestion, it will connect Solana and Ethereum to build a more efficient Web3 infrastructure by combining their strengths.
Experts are also showing confidence in SOLX, with crypto analyst and YouTuber Jacob Bury, who has over 55.7K subscribers, predicting that the token could rise 10X after its launch.
Investors can stake their SOLX tokens for annual returns of 149%. So far, over 7.6 billion tokens are already staked.
For those who are interested, the SOLX tokens are currently selling for $0.00167 and can be bought with crypto or a bank card through the widget on the website.
With a price increase in about 33 hours, now is the ideal time to buy to secure your best deal.
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